News Alert: Buyers BEWARE, Businesses BEWARE… Sales tax rates changing for Atlanta & Fulton County

Taxes Going Up

New Sales Tax Rate in Atlanta Beginning March 1, 2017, the local sales and use tax rate in Atlanta increased from 1% to 1.5%. When combined with the Fulton County rate of 7%, the new state and local rate in the city became 8.5%. The total sales tax rate in Atlanta will increase again on April 1, 2017, rising from 8.5% to 8.9% percent, when the Atlanta TSPLOST is imposed. New Sales Tax Rate in Fulton County-Outside City of Atlanta Outside of Atlanta but still in Fulton County, the sales tax rate will rise from 7% to 7.75% beginning April 1, 2017, when collection of the Fulton TSPLOST begins. What is the Rate Increase for? The rate increase is due to the imposition of a new 0.5% Metropolitan Atlanta Rapid Transit Authority (MARTA) sales and use tax, which was approved by voters on November 8, 2016. It’s expected to generate approximately $2.5 billion over the next 40 years, money that will go toward improving the existing high-capacity rail system, building new infill rail … [Read more...]

Andrea Utsey Obtains Professional Firm Manager Designation

Andrea-Utsey

The CPA Firm Management Association Recognizes SJG Administrator as a Public Accounting Firm Manager Alpharetta, GA. February 15, 2016 – S.J. Gorowitz Accounting & Tax Services, P.C. (SJG), a boutique CPA firm supporting expanding and emerging businesses and their owners, is pleased to announce that Firm Administrator, Andrea Utsey, has been awarded the CPA Firm Management Association’s (CPAFMA) Public Accounting Firm Manager (PAFM) certification. This prominent designation recognizes Utsey’s knowledge and professional experience in accounting practice management. “We have always known that Andrea is a first-class administrator,” said Stacey Gorowitz, Founding Principal and CEO of SJG. “Now, she has the PAFM designation to underscore it. This credential demonstrates Andrea’s unparalleled level of competence and masterful skill set, without which our firm would not be where it is today.” … [Read more...]

NEWS ALERT: Tax Return Due Dates Changes for 2016 Tax Year

Federal Due Dates

Now that we have gotten settled into 2017, it’s time to get ready to prepare for tax filing season. The American Institute of Certified Public Accountants (AICPA) for years has advocated for more logical and sensible due dates for income tax returns. As a result, new due dates will go into effect for the 2016 tax and calendar years (2017 filing season) enabling taxpayers and practitioners to have timely and accurate information necessary from flow-through entities’ Schedules K-1s. … [Read more...]

NEWS ALERT: Deadlines for 1099-MISC have changed for 2016!

Until now, employers had two dates to keep in mind when preparing 1099’s and W-2s. Beginning with 2016 forms, employers will now have one filing deadline for all Federal information returns - January 31, 2017. This applies for both employee and agency copies, or whether filing paper or electronic returns. The state of Georgia has also adopted the new January 31 filing deadline. … [Read more...]